LIC Share Price: Shares of Life Insurance Corporation of India (LIC), a state-owned insurance company, are expected to remain in focus on Friday, November 6, after the insurer reported a 20 per cent year-on-year (YoY) increase in net profit to Rs 12,076 crore for the second quarter ended September 2026.
Following the results, domestic brokerage firm Emkay Global Financial Services maintained its BUY rating on the stock and set a target price of Rs 550.
The company’s total income improved to Rs 2,62,739 crore in the September quarter, compared with Rs 2,39,614 crore in the corresponding period of the previous year.
LIC’s net premium income increased to Rs 1,47,018 crore in the second quarter of the current financial year, against Rs 1,26,479 crore in the same period a year ago.
During the quarter, renewal premium increased to Rs 68,375 crore from Rs 64,996 crore in the year-ago period.
However, first-year premium witnessed a slight decline to Rs 10,432 crore from Rs 10,836 crore in the corresponding quarter of the previous financial year.
LIC Share Price Target
Following LIC’s Q2 FY27 results, Emkay Global Financial Services maintained its BUY rating on the stock with a September 2027 target price of Rs 550. At Thursday’s closing price, Emkay’s target price of Rs 550 implies an upside potential of about 35 per cent.
The brokerage’s target price implies a price-to-embedded value (P/EV) multiple of 0.7 times its FY28 estimates.
Despite a weaker-than-expected Q2 performance, Emkay remains optimistic about LIC’s growth prospects in the second half of the financial year.
Why is Emkay bullish on LIC?
Emkay expects new product launches, including Deferred Annuity, Health and Cancer covers, along with improving productivity across the agency channel, to drive LIC’s business growth in the second half of FY27.
A recovery in equity markets could also support a rebound in ULIP products, the brokerage said.
On profitability, Emkay expects LIC’s value of new business (VNB) margins to expand. This is expected to be supported by a higher share of high-ticket-sized policies, non-participating savings and protection products, along with improved operating efficiency.
The brokerage added that LIC’s management aims to bring VNB margins closer to the levels of listed private-sector peers.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
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